Yingli Green Energy Holding Co. Ltd. has entered into an investment agreement with China Rich Energy Corp. Ltd. to develop and construct distributed generation (DG) solar projects across China. China Rich Energy is a subsidiary of China National Nuclear Corp. (CNNC).
The partners have agreed to develop 500 MW of DG solar projects, 200 MW of which will be installed on sites to be provided by CNNC or its subsidiaries.
‘While CNNC remains committed to nuclear power development, we are increasing our activities in the renewable energy space,’ says Hongchao Xu, deputy general manager of China Rich Energy and chairman of the joint venture. ‘The cooperation with Yingli Solar reflects our strategy and is in line with the strategic targets of the Chinese government to promote ecological civilization and sustainable development.’
Liansheng Miao, chairman and CEO of Yingli Green Energy, says policies recently adopted by the Chinese government are expected to benefit the rapid development of DG solar in the near term. He says Yingli Green Energy will pursue such projects in addition to its traditional work on large-scale photovoltaic power plants.